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no vote, turmoil in the house, as conservative republicans refuse to back a debt limit plan proposed by gop leaders. attack foiled, an american soldier missed he was planning a terrorist attack at ft. hood. rainmaker. tropical storm don may bring up to five inches of rain to drought-stricken texas. captioning funded by cbs >> good morning everybody on this friday. thanks for joining us. i'm betty nguyen. talk about divided government. gop leaders had to postpone a vote on their own proposal. conservative members refused to go along. they will try again today to muster enough votes to pass the vote.
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danielle knottingham is in washington with the latest on this. good morning, danielle. >> good morning, betty. this was a major setback and embarrassment for house republicans. it was the second day they couldn't find enough votes to take action on their own legislation and now it has everyone here on capitol hill wondering what's going to happen next. house republicans will meet this morning to plot their next move in the debt ceiling showdown. >> we're going to keep working this thing until we find a way to pay the nation's bills and live within our means. >> reporter: last night after hours of trying to round up support, gop leaders were forced to call off a vote on speaker john boehner's plan. the proposal would raise the debt ceiling for six months and slash more than $900 billion in spending but some tea party members want deeper cuts. >> i simply cannot raise the debt ceiling if we're not going to fundamentally change the way we do business. >> reporter: lawmakers have four days before the government runs out of cash.
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in a statement released last night, house minority leader nancy pelosi blamed the gop for the holdup. "republicans have taken us to the brink of economic chaos," she said. "the delay must end now so we can focus on the american people's top priority, creating jobs and growing the economy." republicans are reportedly making changes to the bill and could bring it back up as early as today. even if it makes it to the senate, democrats say it doesn't stand a chance. >> we cannot come back to this in a few short weeks and that's what would happen. >> reporter: investors wait anxiously. the dow jones has been down all week and after last night's delay in the house, asian stocks struggled while the dollar sank against the japanese yen to a four-month low. as early as today, the treasury department could unveil its plan on how the government will pay its bills if congress can't work this whole thing out by the
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tuesday deadline, betty. >> danielle knottingham in washington, thank you so much. one consequence if there is no agreement on the debt limit is interest rates will go up, and if you have an adjustable rate mortgage, it means higher monthly payment. dean reynolds has that part of the story. >> reporter: juan cruz says congress is messing with his american dream. he's made an offer on a $130,000 home for his young family and hopes to get a 30-year fixed rate mortgage at 4.5%. >> i'm trying to stay within my means. but if it goes up, i mean if the percentage rate goes up it affects my outcome. >> reporter: rate increases are nearly certain if congress cannot reach a deal and the u.s. defaults. juan's bank told him interest rates could rise two percentage points which would jack up his mortgage payments $163 a month. do you think congress gets that? >> i hope they get it. >> reporter: in evanston illinois, landlord john nash is in an even more precarious position with an adjustable
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mortgage on a building he rents out, he's bracing for a several hundred dollar monthly increase in payments if the stalemate in washington persists. >> the concern is the rates would go up tremendously which would put an added expense on me as a small real estate investor. >> reporter: you can extend that concern about higher payments to an estimated 15 million homeowners with adjustable rate mortgages. the loans are popular and why not? for example a so-called five-year arm in which the rate is fixed for the first five years and adjusts annually thereafter is currently 3.25%, about 1.3% below the 30-year fixed rate loan. a sweet deal, as long as interest rates stay low. housing and real estate together are the biggest drag on the u.s. recovery so it's easy to see why so many people worry that default will slow things down even more. dean reynolds, cbs news, chicago. on the "cbs moneywatch" the consequences of a u.s. default
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on world markets. ashley morrison is here in new york with that. good morning, ashley. >> good morning to you, betty. as danielle reported, anxiety over the u.s. budget talks sent asian stocks down this morning. tokyo's nikkei lost 0.7%, while hong kong's hang seng was down about the same. on wall street yesterday, the dow gave up an early rally to finish 62 points lower while the nasdaq inched up 1 point snapping a four-day losing streak. the global economy is highly dependent on the u.s. economy. the dollar is the reserve currency used by most central banks. the new managing director of the international monetary fund, christine laguarde says if no budget agreement is reached confidence in u.s. currency would plummet. >> it would probably entail a decline relative to other currencies and probably the
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doubts in the mind of those people who reserve currencies. >> financial executives are also voicing their concern to lawmakers. the government's report on second quarter growth is out today. economists expect the economy grew slightly less in the first three months of the year, making it the slowest back-to-back quarter since the economy began recovering two years ago. betty, ferrari seems to be speeding past any economic bumps. the italian sports car says most of the sold vehicles in the history, in the last six months, sales were strongest in the u.s. and china in september. ferrari will roll out a program that lets customers design their own sports car using exclusive materials, color and trends. that would be pretty cool to do. >> nice gift for someone. hint, hint. thank you, ashley. joining us live here in new york. a 21-year-old army private has been arrested near ft. hood, texas. he faces charges in a plot against the army post where 13 people were killed in a mass shooting less than two years
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ago. the muslim-american soldier admits planning a terrorist attack. joel brown reports. >> reporter: u.s. law enforcement sources tell cbs news that 21-year-old army private nasser abdo admits he was seeking retaliation for what he says the army did to him. they say he intended to attack the sprawling army post at ft. hood in texas. >> i'll just say that military personnel were a target of this suspect. >> reporter: in 2009 a shooting rampage at ft. hood left 13 dead and 30 others injured but on wednesday a suspicious clerk at this gun shop near the base may have been the difference in preventing another tragedy. the clerk tipped off police after abdo asked for advice on building explosives. he tried to buy weapons and six canisters of smokeless gun powder. >> the first red flag is when he asked kathy, "what is smokeless powder?" if you don't know what it is, why would you buy six pounds of it? >> reporter: police tracked abdo
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to this motel, not far from the army post. a search turned up weapons, ammunition and potential components for building a bomb. authorities arrested abdo just in time, they say. >> we would probably be here today giving you a different briefing had he not been stopped. >> reporter: abdo went awol from the army on the fourth of july. he had been trying to leave the armies aa conscientious objector. but his discharge was delayed after the military says child pornography was found on his computer. abdo was facing federal bomb making charges but the fbi believes at this point he was acting alone. joel brown, cbs news. in other news, 11 oil platforms in the gulf of mexico have been temporarily closed as a precaution against tropical storm don. the storm is headed for texas. it's about 370 miles southeast of texas. don is expected to make landfall tonight or tomorrow.
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it's expected to make' whole lot of waves. >> it's supposed to be a non-event but you don't want to wait until it's blowing 40 knots to get your boat ready so best to get it ready now. >> don is not expected to become a hurricane. in dubuque, iowa, flooding from heavy rains forced dozens of people to be evacuated from their homes. more than a foot of rain fell since wednesday. some roads were washed out. the mississippi river is almost at flood stage. just ahead on "the morning news" a deadly explosion in a coal mine in the ukraine. plus two americans held in iran are preparing to go to court. first bob schieffer has a preview of tonight's "cbs evening news". >> one american county is on the verge of declaring what could be the biggest municipal bankruptcy in history, schools, police, the fire department, all on the line. so what will stop working if the government shuts down? the story tonight on the "cbs evening news." the story tonight on the "cbs evening news."
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a powerful explosion killed at least 16 coal miners in the ukraine earlier today. the blast took place more than a half mile down a mine in eastern ukraine. emergency crews are still looking for nine other miners who had been working in the area and two miners were injured. in libya the the commander of forces battling moammar gadhafi has been killed and it's not clear who shot him. adele fatah unis was libya's minister before he defected, but he had been summoned for questioning. police have called off searches for the bodies of massacre victims on the island of norway but the search continues for waters around the island where 68 people died a week ago. it's feared some may have drowned while trying to escape the shooting rampage by anders breivik.
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the two remaining american hikers held in iran on spy charges are due for a final court hearing this sunday, two years to the day of their arrest. shane bauer and josh fattal say they accidentally strayed into iran. the intensive search continues for selena cass, the 11-year-old missing new hampshire girl, neighbors are still distributing selena cass's picture. she was last seen monday night. >> we are looking at computers. we are looking at phones. we are working with the united states attorney's office in new hampshire. we continue to work with the new hampshire state police, the vermont authorities, fish and game. this is an all-out search for her. >> they also alerted canadian authorities across the border. new jersey governor chris christie is expected to be back to work today after a health
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scare. he was hospitalized thursday after complaining of difficulty breathing. he suffers from asthma. straight ahead, tiger woods says's is ready to return to golf. er woods says he is ready to return to golf. wrinkles in just one week. its rs why wait if you don't have to. neutrogena®. why wait if you don't have to. ♪ hershey's chocolate syrup. stir up a smile.
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time now for a check of the national forecast. the latest satellite picture shows partly cloudy skies in the northeast and clear along the west coast. large thunderstorms are moving through the central plains and great lakes. tropical storm don, that is moving toward the texas coastlines. later today severe storms in the northern plains will take place. some storms in the northeast with temperatures in the 90s and on the west coast, sunny skies, the temperatures in the 80s and 90s. in sports, tiger woods is coming back, after an 11-week break because of injuries to his left leg, woods says he is now feeling fit. he will tee off next week in the firestone international in ohio. former major league pitcher hideki irabu beau was found dead of an apparent suicide in his california home. the 42-year-old pitched for the yankees when he arrived from japan in 1997. officials say he was upset over a recent split with his wife.
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in the majors, last place kansas city beat first place boston, at fenway park the royals billy butler smacked a three-run home run to center field to take the lead and kansas city held on to beat the reds 4-3. in philadelphia carlos beltran just acquired by san francisco made a sliding catch in right field and the phillies throwing error sailed over ryan howard's head that allowed two runs for the giants in a 4-1 victory. when we return an amazing story of survival for a very lucky pilot. special k protein shakes -- ♪ a truly great-tasting breakfast shake. with 10 grams of protein and 5 grams of fiber, it's the creamy, delicious way to satisfy... your hunger to help you lose weight. ♪
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so you can kick the tin can habit. try special k protein shakes today. with new extra-strength bayer advanced aspirin. it has microparticles, enters the bloodstream faster and rushes relief to the site of pain. it's clinically proven to relieve pain twice as fast. new bayer advanced aspirin. debt deadline. with no deal in sight -- now they're praying on capitol hill. a man - in critical condition after being shot in the chest in the east bay. this morning - the possible motive. and no doubt about it - san francisco is one colorful city. but - why so blue? and the drug that may increase the survival chances of breast cancer patients.
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join us for cbs 5 early edition ... beginning at 4:30. ... beginning at 4:30. ,,,, on the "cbs morning news," on the "cbs morning news," here's a look at today's weather. tropical storm don is heading straight for the texas coast. hazy, hot and humid in the northeast with some afternoon thunderstorms and another picture perfect day on the west coast.
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here's another look at this morning's top stories. a vote was postponed in the house on a republican bill to raise the national debt ceiling and cut spending. the gop does not yet have the votes needed to pass it. and a u.s. army soldier is caught with weapons and admits plotting to attack ft. hood, texas. 13 people were killed in the 2009 attack on that base. a remarkable survivor story from a new york pilot this morning. he's resting comfortably in michigan after a gruelling ordeal in the icy waters of lake huron. randall pinkston has his story. >> reporter: 42-year-old michael trapp was pulled from lake huron after treading water for 18 hours with no life jacket. >> i was waving my arms and by the grace of god they slowed down. i about started crying when they slowed down. >> reporter: the pilot was flying his cessna from upstate wisconsin tuesday when his engine began sputtering. he went down 29 miles from the michigan shore.
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>> now i got my shoes on, my pants on, the seas are like ten feet. every like eight, ten seconds i'm getting doused by water, dragging me down six feet every time a wave goes by. >> reporter: he is not a strong swimmer but survived the night with nothing to hold on to, to keep him afloat. >> the one thing i wanted to one more time wrap my arms around my wife and my mom. >> reporter: around 10:00 a.m. and, dean and diana petitprin saw a drop bobbing in the water. >> he appeared to be a coconut floating in the water. all you saw was his head. the timing was perfect. if we would have left five minutes earlier or later this morning, it would probably be a different story. >> they grabbed me and drug me on board like a caveman drags his wife, pulled me right on. >> reporter: trapp says he survived because he wasn't ready to die. randall pinkston, cbs news. the trial of polygamist sect leader warren jeffs is off to a frenzied start largely because the defendant insisted on
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representing himself and staying silent. jeffs is charged with two counts of sexual assault of a child at a compound south of san angelo, texas. listen to this story, better yet take a look at it. a beagle that glows in the dark may offer a clue to treating and possibly curing some human diseases. south korean scientists say the dog was genetically engineered. the gene injected to make the dog glow can be replaced with genes that trigger fatal human diseases. in turn they can study how to cure the disease in the dog. all it took was a few seconds for a car crash to cost $1 million. five cars collided in monte carlo, a bentley, a mercedes, a ferrari, a porsche and an aston martin. nobody was hurt, damage was minor but expensive nonetheless. this morning on "the early show" "the early show," searching for the votes for the house to pass the republican
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plan to raise the debt ceiling. i'm betty nguyen. this is the "cbs morning news." ooo whatcha got there? uh oh, sesame stir fry from lucky dynasty. oh, me too! but mine's lean cuisine, so no preservatives. [ female announcer ] lean cuisine has 90 dishes with no preservatives and quality ingredients like farm-picked broccoli and tender white meat chicken. lean cuisine. -why? -why? -why? [ female announcer ] we all age differently. roc® multi-correxion 4 zone moisturizer with roc®retinol and antioxidants. lines, wrinkles, and sun damage will fade. roc multi-correxion. correct what ages you. a network of possibilities. in here, the planned combination of at&t and t-mobile would deliver our next generation mobile broadband experience to 55 million more americans, many in small towns and rural communities, giving them a new choice. we'll deliver better service, with thousands of new cell sites... for greater access to all the things you want, whenever you want them.
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in afghanistan this morning, at least 18 civilians died when a mini bus hit a roadside bomb in southern helmand province. it's just the latest in a surge of taliban violence increasingly targeting afghan politicians and civili civilians. seth doane reports. >> reporter: it was two years ago fausia kufa wrote this troubling message to her daughters. >> reporter: maybe today is the day i will die. >> reporter: her published farewell letter was written because as an outspoken member of parliament in afghanistan, kufi is a target of the taliban. >> right now i think the terrorist acts are the biggest threat for me and for others. for me more because i talk against them. >> reporter: her father was assassinated as were three of
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her brothers. you're willing to die for your job, for this country? >> we will die one day. i think the pride will be if you die paving the way for others, we're leaving something behind. if i'm afraid i will die and i don't do anything, who will take this country? >> reporter: targeted killings in afghanistan are up more than 100% since 2009, according to the united nations. is anyone safe in afghanistan, really safe? >> well, not. we can't say that anyone is safe in this country. >> reporter: haroon mir runs the afghanistan center for research and policy studies. >> taliban decided not to face u.s. military. instead they have focused on terrorist attacks first on civilians and afghan government, institutions. >> reporter: in two recent suicide attacks the taliban unleashed a surprising new weapon that allowed them to get past police and security, bombs hidden in turbans. there are checkpoints all across
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kabul, it's common to pull people out of vehicles, to frisk them, to search the vehicles themselves. as you can see, it's incredibly uncommon to search under a turban, to remove a turban in public would be considered an insult. an explosive-laden turban killed the kandahar mayor wednesday and just last week, kufi herself was invited to a gathering where two people were killed. have you changed any way that you go about life because of these threats? >> i did a little bit, but you know, when it comes to assassination and planned killing, nothing can protect you. >> reporter: guards stand by her front gate and she admits sometimes she even travels disguised in a burqa. >> i know what i'm doing can make a difference for my future and for my daughter ace future and for other women and children of this country. then it is worth sacrificing our lives. >> reporter: a sacrifice that's become disturbingly familiar here.
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seth doane, cbs news, kabul. coming up later on "the early show" the latest on the republican struggle in the house to find the votes to pass the debt limit bill. plus meet the man who survived a cheat with death twice in lake huron. and an update on what's happening with the british royal family including another wedding. that's the "cbs morning news" for this friday. thanks for watching, everyone. i'm betty nguyen. have a great day. -- captions by vitac -- www.vitac.com
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tv
CBS Morning News
CBS July 29, 2011 4:00am-4:30am PDT

News/Business. Betty Nguyen. News reports on current events. New. (CC) (Stereo)

TOPIC FREQUENCY U.s. 10, Texas 9, Afghanistan 5, New York 4, Iran 3, Betty Nguyen 3, Cbs News 3, Us 3, Washington 3, Kansas City 2, Cbs 2, Roc Multi-correxion 2, Kufi 2, Danielle Knottingham 2, Gop 2, Joel Brown 2, Ashley 2, Randall Pinkston 2, Danielle 2, At&t 2
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Duration 00:30:00
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